fetching latest news

News tagged in:  

India NEWS

ONGC violates environmental laws, fined Rs 2.05 crore
yesterday

ONGC violates environmental laws, fined Rs 2.05 crore

India's energy giant, ONGC has been fined Rs 2.05 crore by the Pollution Control Board, Assam. The board has slammed the firm for violating an order by the Supreme Court and causing pollution to the environment. ONGC disobeyed environmental laws in its six wells of Assam. The company will have to submit this amount within one month of the issuance of the order.

IOCL to spend Rs 2,282 crore to establish second R&D centre in Faridabad
Sept. 11, 2019

IOCL to spend Rs 2,282 crore to establish second R&D centre in Faridabad

India’s largest oil guzzler, IOCL is looking to establish its second Research and Development (R&D) centre, nearby to an existing facility in Faridabad, Haryana. The proposed facility to be set-up at a cost of Rs 2,282 crore will research on alternative & renewable energy, industrial bio-technology, nanotechnology, refining technology, petrochemicals, applied metallurgy, pipeline research, catalytic interventions for clean energy processes and carbon nanotube & batteries.

H-Energy signs PSA with Kakinada Seaports
Sept. 10, 2019

H-Energy signs PSA with Kakinada Seaports

H-Energy has entered into a port service agreement (PSA) with Kakinada Seaports (KSPL). The company will develop a liquefied natural gas (LNG) regasification and reloading terminal at Kakinada port in Andhra Pradesh. The company has entered into this agreement through its wholly-owned subsidiary, East Coast Concessions (ECPL). LNG hub will be developed by the company keeping in mind the needs of domestic customers in Andhra Pradesh.

Environmental Expert rules out possibilities of oil spill in Mangaluru
Sept. 7, 2019

Environmental Expert rules out possibilities of oil spill in Mangaluru

Environmental expert, RD Tripathi has denied the threat of an oil spill from the sinking of the dredger, Tridevi Prem, which sank near Mangaluru on September 2. Talking to reporters on Friday, Tripathi reasoned that since there was no blast or damage to the ship while it sank, the fuel compartments will remain intact. Chairman, NMPT had a similar reply, who based his argument on the water samples from the site.

Russia and India plan $30 billion of annual trade by 2025
Sept. 5, 2019

Russia and India plan $30 billion of annual trade by 2025

Amidst a row of energy deals to strengthen the economic ties between the nations, India and Russia eye at $30 billion of annual trade by 2025. India aims at increasing the proportion of gas in its energy mix to 15% in the near future. "We are looking at investing in additional oilfields in Russia ... we are also looking at sourcing LNG", said India's Foreign secretary.

Fire at ONGC Navi Mumbai plant kills five
Sept. 3, 2019
Source: India Today

Fire at ONGC Navi Mumbai plant kills five

A fire broke out at ONGC’s Uran gas processing plant this morning, killing at least five. Eight others injured in the incident have been admitted to a hospital, as rescue operations remain underway. ONGC said that gas being supplied to the plant has been averted to a plant in Hazira, Gujarat.

IOCL planning to invest $28 billion by 2023-24
Aug. 29, 2019

IOCL planning to invest $28 billion by 2023-24

India’s biggest oil guzzler, Indian Oil Corp is planning to devote $27.98 billion in upcoming five-seven years to fulfill energy requirements of diverse user groups. Talking at a shareholders meeting yesterday, Chairman Sanjiv Singh said that the investment would allow IOCL to evolve into a future-ready corporate. This will also help provide comprehensive energy solutions.

India's dependency for crude oil imports shifts towards other suppliers
Aug. 28, 2019

India's dependency for crude oil imports shifts towards other suppliers

According to the recent data, the dependency of India for crude oil imports has increased from Iraq, Saudi Arabia, Nigeria, and the United States. It has come at the time when two of its major oil suppliers Iran and Venezuela are facing sanctions from the US. Crude imports from Iraq have increased by 3% and 5.61% jump has been experienced from Saudi Arabia.

India to invest Rs 5 trn in oil and gas sector
Aug. 28, 2019

India to invest Rs 5 trn in oil and gas sector

India should expect an investment of around Rs 5 trillion in oil and gas, informed Petroleum Minister, Mr Dharmendra Pradhan. The country will witness investments in various sectors including exploration, distribution, marketing, regasification, pipeline network laying. Mr. Pradhan also informed about the long-term contracts for importing LNG. Also, domestic natural gas production would soar high touching 39.3 bcm by 2020-21.

HPCL plans Rs 74,000 crore in next five years
Aug. 22, 2019

HPCL plans Rs 74,000 crore in next five years

Aimed at expanding its capacity, an investment of around Rs 74,000 crore will be made by Hindustan Petroleum Corporation over the next five years. It will invest Rs 14,900 crore in the current year. HPCL's Chairman said, "We are focused on strengthening refining and marketing through expansion of our refining capacity, supply chain capabilities and customer reach".

GAIL to devote Rs 45,000 cr for expansion of pipelines, city gas network
Aug. 21, 2019

GAIL to devote Rs 45,000 cr for expansion of pipelines, city gas network

India’s state-run midstream giant, GAIL’s Chairman, yesterday, informed about plans of spending Rs 45,000 crores to expand the National Gas Grid and city gas distribution network. The investment will span over the next 5 years. While Rs 32,000 crore would go into pipeline laying, Rs 12,000 crore will be spent on CGD networks for the retailing of CNG to automobiles and PNG to household kitchens.

Worley secures work on Reliance Deep-Water Gas Project
Aug. 20, 2019

Worley secures work on Reliance Deep-Water Gas Project

Engineering giant, Worley has secured a Project Management Contract through its wholly owned subsidiary, Intecsea, for the Reliance Deep-Water Gas Project. The contract pertains to RIL’s MJ Field deep-water gas and condensate project. The scope of the contract includes provision of PMC services for the development of subsea gas and condensate resource traced in deep water of roughly 1,000 meters in the MJ Field, offshore India.

IOCL plans to invest big in green projects
Aug. 20, 2019

IOCL plans to invest big in green projects

India's downstream giant, IOCL has planned to invest Rs 25,000 crore in green energy projects. In its annual report, the company said, "Indian Oil has developed a road map and action plan to usher in clean and green energy alternatives to mitigate the risk of global warming". The company will invest in solar and wind power plants, bio-fuels plants, and solar panels at filling stations.

ONGC targets new 'Energy Strategy 2040'
Aug. 19, 2019

ONGC targets new 'Energy Strategy 2040'

Indian upstream major, ONGC has unveiled a new vision to increase its oil and gas output twofold from its domestic and overseas fields. The vision incorporates magnifying its refining capacity to three times alongside diversification into renewables. ONGC Chairman Shashi Shanker said that the company envisions to become "A diversified energy company with a strong contribution from non E&P business; 3x revenues and about 5-6x market capitalisation,".

HPCL accepts ONGC as its promoter after several warnings
Aug. 14, 2019

HPCL accepts ONGC as its promoter after several warnings

HPCL on Tuesday finally recognised ONGC as its promoter in public filings. This has come after several warnings from the Government and the Securities and Exchange Board of India (SEBI). After the act of ignorance, SEBI gave HPCL a deadline of August 13 and warned of “appropriate action” if it failed. Friction between the two companies cannot end overnight but the resolution of the promoter issue is a good step.

ONGC first quarter profits dip by 4%
Aug. 14, 2019

ONGC first quarter profits dip by 4%

Indian state-run oil major, ONGC registered a 4% drop in net profit at Rs 5,904 crore for 1Q2019, stressed by lower crude oil production and realization. The oil major’s total crude oil production for the quarter grossed at 5.86 Million Tonne (MT), declining 5.6% from 6.21 MT posted in the same quarter last year. ONGC made four discoveries in the April-June 2019 period.

Fuel demand of world’s largest democracy up by 3.3% in July
Aug. 12, 2019

Fuel demand of world’s largest democracy up by 3.3% in July

Data released by the Indian oil ministry (PPAC) reveals that the country’s fuel demand jumped by 3.3% in July, compared with the corresponding month last year. The consumption of fuel which is an established parameter for oil demand, computed to 17.58 million tonnes. While gasoline sale was 8.8% higher from a year earlier at 2.52 million tonnes, LPG sales improved 9% to 2.22 million tonnes.

BPCL registers lower profits for Q1
Aug. 10, 2019

BPCL registers lower profits for Q1

India’s state-run refiner, BPCL registered a 41.48% plunge in profits for the first quarter. BPCL collected Rs 1,799.59 crore in profits, slipping from Rs 3,075.06 crore in the corresponding quarter last year. The oil guzzler’s income dipped 4.01% from Rs 83,605.07 crore to Rs 86,956.29 crore. Ebitda was Rs 2,981.9 crore against Rs 4,598 crore last year.

Please Login to Save News for Later